Alerus Financial $ALRS Shares Bought by Sippican Capital Advisors

Sippican Capital Advisors raised its position in Alerus Financial (NASDAQ:ALRS) by 9.6% in the 2nd quarter, Holdings Channel reports. The fund owned 110,638 shares of the company’s stock after purchasing an additional 9,653 shares during the period. Alerus Financial accounts for 1.7% of Sippican Capital Advisors’ holdings, making the stock its 17th biggest holding. Sippican Capital Advisors’ holdings in Alerus Financial were worth $2,394,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ALRS. Wellington Management Group LLP acquired a new stake in Alerus Financial in the first quarter valued at approximately $6,040,000. Nuveen LLC purchased a new position in shares of Alerus Financial during the 1st quarter valued at approximately $3,185,000. Choreo LLC boosted its stake in shares of Alerus Financial by 112.1% during the 1st quarter. Choreo LLC now owns 285,815 shares of the company’s stock valued at $5,333,000 after buying an additional 151,045 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Alerus Financial by 13.2% during the 1st quarter. Vanguard Group Inc. now owns 1,194,264 shares of the company’s stock valued at $22,046,000 after buying an additional 139,435 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new position in shares of Alerus Financial during the 1st quarter valued at approximately $1,195,000. Institutional investors and hedge funds own 51.25% of the company’s stock.

Alerus Financial Stock Performance

Shares of ALRS opened at $20.81 on Friday. The business’s fifty day moving average price is $22.08 and its 200 day moving average price is $21.01. Alerus Financial has a 12-month low of $15.78 and a 12-month high of $24.41. The stock has a market capitalization of $528.57 million, a PE ratio of 12.31 and a beta of 0.70. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.88 and a quick ratio of 0.87.

Alerus Financial (NASDAQ:ALRS) last announced its quarterly earnings data on Monday, July 28th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.16. Alerus Financial had a return on equity of 10.21% and a net margin of 11.06%.The firm had revenue of $74.80 million for the quarter, compared to analysts’ expectations of $69.96 million. Equities research analysts forecast that Alerus Financial will post 2.14 EPS for the current year.

Alerus Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Friday, September 26th. Alerus Financial’s dividend payout ratio (DPR) is presently 49.70%.

Analysts Set New Price Targets

Several equities analysts have recently commented on ALRS shares. Piper Sandler increased their target price on Alerus Financial from $24.00 to $25.50 and gave the company a “neutral” rating in a research note on Wednesday, July 30th. Wall Street Zen cut Alerus Financial from a “buy” rating to a “hold” rating in a research note on Sunday, August 17th. Raymond James Financial reiterated an “outperform” rating and set a $27.00 target price (up from $24.00) on shares of Alerus Financial in a research note on Tuesday, July 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Alerus Financial in a research note on Wednesday. Finally, Keefe, Bruyette & Woods raised their price objective on Alerus Financial from $22.00 to $25.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 29th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $25.63.

About Alerus Financial

Alerus Financial Corporation operates as the bank holding company for Alerus Financial, National Association that engages in the provision of various financial services to businesses and consumers. The company operates in four segments: Banking, Mortgage, Retirement and Benefit Services, and Wealth Management.